Business Combinations, Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2026

Business Combinations, Goodwill and Other Intangible Assets [Abstract]

Business Combinations, Goodwill and Other Intangible Assets

I Merit Inc.

On June 22, 2026, the Company, through its wholly owned subsidiary Clairvoyant AI, Inc. entered into a securities purchase agreement (the “Purchase Agreement”), which is expected to close on July 31, 2026, to acquire 100% of the equity securities of I Merit Inc., a Delaware Corporation (“iMerit”), in exchange for upfront cash consideration of $170,000, subject to certain post-closing adjustments, and up to an additional $140,000 in cash incentives and earnouts over two years contingent on meeting specified milestones, as set forth in the Purchase Agreement.

iMerit is a recognized leader in AI model training, evaluation and reinforcement learning. It is focused on helping its clients train large language and multimodal models to improve accuracy, precision, and effectiveness. The acquisition strengthens

Company's ability to help enterprises achieve measurable outcomes from AI, builds partnerships with leading foundation model builders and expands its reach into high-growth AI tech sectors.

Goodwill

The following table sets forth details of changes in goodwill by reportable segment of the Company:


	Insurance		Healthcare and Life Sciences		Banking, Capital Markets and Diversified Industries		International Growth Markets		Total



Balance as of December 31, 2025	$	77,269	$	189,594	$	100,153	$	52,638	$	419,654


Currency translation adjustments	(42)		(28)		(494)		(397)		(961)
Balance as of June 30, 2026	$	77,227	$	189,566	$	99,659	$	52,241	$	418,693

During the three and six months ended June 30, 2026 and 2025, the Company performed an assessment to determine whether events or circumstances exist that may lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on such assessment, the Company concluded that there was no impairment on goodwill as of the three and six months ended June 30, 2026 and 2025.

Other Intangible Assets

Information regarding the Company’s intangible assets is set forth below:


	As of June 30, 2026						As of December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	108,550	$	(79,839)	$	28,711	$	108,550	$	(73,482)	$	35,068
Developed technology	3,609		(3,609)		—		3,636		(3,558)		78
Trade names and trademarks	1,700		(1,591)		109		1,700		(1,542)		158
Non-compete agreements	300		(300)		—		300		(300)		—
	114,159		(85,339)		28,820		114,186		(78,882)		35,304
Indefinite-lived intangible assets:
Trade names and trademarks	900		—		900		900		—		900
Other intangible assets	$	115,059	$	(85,339)	$	29,720	$	115,086	$	(78,882)	$	36,204

The amortization expense recognized in the unaudited consolidated statements of income was as follows:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
Amortization expense	$	3,258	$	3,277	$	6,484	$	6,523

During the three and six months ended June 30, 2026 and 2025, there were no indicators of impairment related to intangible assets.

Estimated future amortization expense related to finite-lived intangible assets as of June 30, 2026 was as follows:


2026 (July 1 - December 31)	$	6,292
2027	11,844
2028	9,228
2029	1,456

Total	$	28,820